Some European countries have exaggerated “on tax revenue increases” in their maneuvers to consolidate public finances. This was stated by Olli Rehn, European Commissioner for Economic Affairs, adding that "the inevitable negative impact on growth of fiscal consolidation can be mitigated by choosing the most appropriate policies".
“Fiscal policy should reflect a balanced set of expenditure and revenue measures, aimed at supporting growth and employment – added the European Commissioner – Permanent consolidation measures are better than temporary ones and investments in education, research and development should have priority".
